Sonali Basak
@sonalibasak
Chief Investment Strategist for iCapital. Previously anchor @BloombergTV. @NYUStern MBA. Views are my own.
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Brutal showing by IBM. The direct acknowledgment that clients have shifted AI capex spend toward core infrastructure — the question is how long the “reprioritization” lasts.
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CAPITAL MARKETS BOOM: I kept saying the IPO darlings would be tapping capital markets for more cash within 6 months of going public. In the case of SpaceX, it’s less than two weeks…
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ANTHROPIC IS GOING PUBLIC: With SpaceX and Anthropic in the hopper for IPOs, there’s nervousness around massive lockup expirations and the continued need for capital raising for large, cash burning companies that will have the pressure of public shareholders. But let’s not forget these are unprecedented moments for unprecedented companies.
Full CNBC interview with @LesliePicker who has some interesting ideas on how Anthropic can get really creative in its listing process. Would LOVE to see it!!!
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GOLDMAN’S IPO THINKING: In an exclusive, the bank’s president talks me through the psychology of a mega-listing.
He doesn’t speak to SpaceX or OpenAI directly, though it’s widely known they have a key role (and for Anthropic as well, and many of the bank’s clients already have ample exposure to all three private firms). Here’s how he’s thinking about the fundraisers this year — including the elevated retail allocations.
Full episode for The Bridge:
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